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20121129
20121207
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Search Results 0 to 12 of about 13 (some duplicates have been removed)
away from the so called fiscal cliff. a drastic combination of mandatory spending cuts and tax hikes that could plunge the united states back into a recession. while there are plenty of hard w0rds from both sides, some terms of a possible zeal are making the rounds. kate bolduan has been following the back and fourth. >> don't get too excited about that, there's only one way to avoid the fiscal cliff. spending cuts and tax hikes. house republicans and president obama need to strike a deal on reducing the national debt. they have soundly rejected a white house offer that included $1.6 trillion in revenue, $400 billion in medicare and other entitlement savings, as well as a permanent increase in the debt limit among other things. so far, the rhetoric has not softened. treasury secretary tim geithner arriving on capitol hill for high level talks, most notably with house speaker john boehner. >> good morning, everyone. >> how did it go? just listen. >> despite the claims that the president supports a balanced approach, the democrats have yet to get serious. about real spending cuts. >> a
and congressional leaders met to talk about how to avoid the fiscal cliff. the automatic spending cuts and tack increases that begin to kick in if there's no agreement by january 1st. 16 days to get here. >> i think we're far apart still, but i think we're moving closer together. >> i would say we're nowhere, period. we're nowhere. >> reporter: thursday treasury secretary timothy geithner proposed president obama's plan which included $1.6 trillion in tax revenue coming largely from an expiration of bush era tax cuts for families who make more than $250,000 a year. geithner says that's a must. >> there's not going to be an agreement without rates going up. >> reporter: the administration's plan also included $50 billion in new stimulus spending. boehner says the entire proposal represented three weeks of wasted time. >> i was just flabbergasted. i looked at him and said you can't be serious. >> reporter: the house speaker says republicans have put increased revenues, including efforts to close tax loopholes and reform the tax code, on the table instead of raising tax rates for anyone. >> the fa
is the federal government spending under control. we continue to get closer to this incredible fiscal cliff and i think that the president should take a case study analysis and look at what president coolidge did and jfk, john f. kennedy when they went in and lowered tax rates and increased revenues, which is exactly what we're talking about. >> so either you've got a president who is tremendously overconfident after being reelected or someone who asks for the sty in the first offer knowing that he will look like the compromising once he gives in on the demands and gets himself involved in negotiations. >> both sides are waiting to see who is going to offer up the plan first, we're waiting on the white house. >> it's the president's job, isn't it? congress controls the purse strings and the white house is waiting for-- we're waiting for something from congress on their side and go back and forth, who puts up the offer first and it's the first salvo, so, michigan mcconnell laughs at it and timothy geithner hands it to them. this isn't real. >> i didn't know that first was the first offer. we have
. >>> call it the fiscal cliff follies, because with 28 days remaining before massive tax hikes and spending cuts kick in, democrats and republicans are ridiculing each other's ideas. it's a recipe for recession. the gop offering up its first plan which calls for $2.2 trillion in deficit savings over the next decade, including $800 billion in tax reforms, 600 million in medicare reforms and spending cuts. but the president rejected it outright because it does not contain tax hikes for the rich. time is running out. any sign of serious negotiation on the horizon? >> i'd say on the horizon, that would be fair. the log jam that you're watching, we're expecting to continued likely until next week. so don't be surprised if you see that. i think the policy prescriptions here, what needs to be done to find a package for deficit reduction are clear. right now you're watching the politics play out. all you need do is open your ears, listen to the white house, listen to congressional republicans you'll hear them playing the blame game. >> making vague promises about achieving revenue through capping d
to zoraida sambolin for an update on the day's top stories. >> soledad, the fiscal cliff debacle, with 28 days remaining before drastic tax hikes and spending cuts take effect, a republican spending plan has been rejected by the white house. brianna keilar is live from washington. what now, brianna? >> well, right now it's about the pressure building and the clock kicking, zoraida. as house republicans in the white house try to ultimately broker a deal between two very different plans. house speaker john boehner's counteroffer, if you take a look at the headlines from this $800 billion in what would be savings from tax reform. so that is new tax revenue. but not done by increasing income tax rate on the wealthiest. but instead by closing tax loopholes, eliminating tax credits. and also $600 billion in health savings. that's what you'd get from entitlement reform. from reforming medicare, and doing some cuts there under this plan. but compare it to the white house plan, very different than what's on the table there. $1.6 trillion in new taxes. that is two times the amount in the boehner pl
'll turn now to the fiscal cliff, 30 days from an economy-crippling deadline. where everyone's taxes go up and massive spending cuts kick in. yet, talks seem to be going nowhere. treasury secretary timothy geithner will be the guest on "this week" with george stephanopoulos. george is with us now. good morning, george. >> last weekend, you sat right here and you said that you were reasonably optimistic that a deal could be afoot. in the intervening week, we have seen a lot of trash-talking from both sides, can we still be somewhat hopeful? >> this week was a rough week in these negotiations. treasury secretary geithner when he went up to capitol hill, on thursday, the senate republican leader mitch mcconnell laughed when he got the offer from tim geithner. they think it's an offer that doesn't show any rules towards compromise. house speaker john boehner said that the talks are at a stalemate. there seems to be a huge divide. democrats said they're not going to make another move until republicans clearly say they're going to go for an increase in tax rates. republicans aren't prepared to m
is spending. no one wants to talk about spending. the fiscal cliff is a bipartisan compromise that would do draconian cuts in the budget they never wanted in the first place. it's foolish to think congress will have a plan to fix things when congress designed the plan they are trying to fix. >> some democrats say entitlements can be on the table but should deal with long-term reform afterwards. here's what senator dick durbin said yesterday on "starting point." >> entitlements need to be part of the long-term strategy but do it in a thoughtful way. i don't want to see major changes decided in the heat of the moment. let's get through the fiscal cliff, find a way to avert it. but at the end of the day treat it as the important program it is for so many millions of americans. >> eric, if we get a deal, how much kicking of the can down the road do you think that deal will inclu include? >> i think it will include significant kicking the can down the road which is why they should kick the entire deal down the road and deal with it together. we know it won't from happen history. we have had 18 o
. the concern is well founded. >> and my thanks to john wattson. >>> political posturing on the fiscal cliff from leading republicans and democrats alike. >> i remain hopeful that productive conversations can be had in the days ahead. but the white house has to get serious. >> we have made our proposal. let them come forward with something. >> find out what senate majority leader harry reid's nevada constituents are saying about his performance. >>> also, is it time for the u.s. to join the ranks and put $1 billis to rest in favor of a $1 coin? believe it or not, people feel passionate about this issue. our heated debate is coming next. stay with us. system spoke a language all its own with unitedhealthcare, i got help that fit my life. information on my phone. connection to doctors who get where i'm from. and tools to estimate what my care may cost. so i never missed a beat. we're more than 78,000 people looking out for more than 70 million americans. that's health in numbers. unitedhealthcare. when you take a closer look... ...at the best schools in the world... ...you see they all have so
up, we're one month away from the fiscal cliff and so far the white house and congressional republicans are still in disagreement over how to reduce the deficit and avoid a raft of tax hikes and spending cuts. yesterday our own jim cramer and maria bartiromo were on "meet the press" and cramer had a message for fellow panelists and father of the anti-tax pledge, grover norquist. >> most ceos are republican. they're on board. they're not on board with you. they're not on board with you because they fear your view. they think you do not favor going -- you favor going over the cliff. that's what they think. they think that you favor -- >> just for the record since we're on tv. that's silly if they think that they shouldn't be ceos. >> it doesn't really matter. that's what they think. >> i want you to walk me up to that moment. >> behind the record. i like that too. >> i'm stuck. like grover is stuck with this pledge he made everybody take which is that they have to go over the cliff because they obviously will not ever say the word tax. they will only say revenue. i'm stuck spe
is assuming unprecedented power to spend taxpayer dollars without any limit at all. >> even as the fiscal cliff negotiations drag on in washington, wall street seems to be basically unphased. the dow jones has slipped only about 200 points since the election. why isn't wall street more on edge itself? william cohen is the author of "money and power, hold goldman sachs came to rule the world." the labor department came out with the applications for unemployment aid saying it fell sharply for the last week and stocks basically opened flat this morning as we've seen. some of that has to do more with europe than it does with washington. but what is your reasoning for why wall street hasn't displayed more of an impact from this fiscal cliff nonsense? >> thomas, what wall street hates most of all is uncertainty and it's counterintuitive, there's actually plenty of certainty now. what's going to be certain is taxes are going up. either we go off the cliff or the curb and then taxes rise for everybody and then maybe they get repealed for the middle class and others or we reach a deal and taxes go
to go over the fiscal cliff. there will be some sort of resolution. they'll come up with some tax cuts, some breaks in spending, and probably kick the can down the road on a lot of it. i love the way this market is acting. it's not selling off with all the bad news, all the bickering, all the bad words on each side. you've got to love the way that this market is holding up here. doesn't mean investors need to be carefree, but overall, it looks like the market is setting up with a lot of negative sentiment out there. looks like there's a lot of opportunity for a big run higher once we get some form of resolution. i really believe we're going to get it. >> you think by year end? >> i really do. i think they want to go home for christmas. they're not going to want to not go home for christmas. you can always count on politicians to do the right thing when all other options have been exploited. they're going to finally get there because they have to. they're not going to solve 100% of it right away. >> jump in, abbigail. >> i think it's too early to be bearish or bullish, for that matter.
right now. >>> our country will be heading over the fiscal cliff that we ourselves dug and put in our way. it's the set of automatic spending cuts and tax hikes that can only be averted if our nation's leaders are able to display bear bones competence and middle school-level maturity. so is there a deal? >> there's, of course, no deal. >> of course! is there a prospect for a deal? >> there's not a prospect for a deal. >> of course! but the ongoing talks. >> there aren't even very many talks going on. >> you're killing us! give us something. >> but for the first time, there are numbers on pieces of paper from both sides. >> numbers on paper! >>> good morning. it's wednesday, december 5th. welcome to "morning joe." live in the nation's capital. this is exciting. and you know, i said, let's do a show from washington, d.c., because they get so much stuff done there. it's like silicon valley. and going there when steve jobs was really bringing apple to the forefront -- >> a happening place. >> it is. it's where things happen. that's why we're here, steve rattner. >> washington is the place
Search Results 0 to 12 of about 13 (some duplicates have been removed)